small business and payroll taxes « The Payroll Department

Posts Tagged small business and payroll taxes

Failure to Send Payroll Taxes Could Result in 5-Year Prison Term

Posted by Ariane on September 19, 2017

The IRS can be tough when it comes to collecting payroll taxes. Businesses are required to withhold taxes from employee wages and pay these funds to the IRS. However, if the IRS doesn’t get this money, the penalties can mount up quickly. It doesn’t matter what your reason could be for not paying this money – even if it’s a good one. Not only will the IRS target the business owner, but they’ll also go after the check signer and any other person responsible for failing to pay the taxes. If you’re convicted, you could go to prison for up to five years. (more…)

Tags: Indiana, outsourcing payroll, payroll taxes, small business, small business and payroll taxes, small business payroll, Teresa Ray, The Payroll Department

Posted in: Payroll, Payroll Processing, Payroll Taxes

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Local Taxes Make Payroll More Complicated

Posted by Jessica on September 6, 2016

Every business, organization, and household needs a certain amount of money to keep things working. Small businesses sell their services and products for it. Charities fundraise for it. Individuals work for it. But what about governments? They can’t work, don’t have anything to sell, and have a hard time inspiring people to give to them. (more…)

Tags: complicated payroll, Indiana, local payroll taxes, payroll taxes, small business and payroll taxes, The Payroll Department

Posted in: Payroll, Payroll Taxes

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Legislation Can Change Everything … At Any Time

Posted by Jessica on August 9, 2016

You never know when new legislation might be passed, turning your small business’s life upside down. Just when you think you have things figured out and your business is on the right track, the government can decide that you need to change the way you operate. Small business owners in New York are currently facing a scenario in which proposed legislation threatens to change the way they will be allowed to pay their employees. (more…)

Tags: benefits of outsourcing, Brownsburg, employers, payroll provider, payroll taxes, small business and payroll taxes, small business payroll, tax laws for payroll, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Payroll, Rules, Regulations and Laws

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So You think Handling Your Own Payroll is Easy?

Posted by Elaine on August 2, 2016

As if payroll itself wasn’t complicated enough, there are IRS reporting deadlines and deposit schedules to comply with as well. And, to make things ever more interesting, it can change depending on how your payroll changes through the year. How can a small business owner keep up with it all? (more…)

Tags: benefits of outsourcing, employers, Indiana, outsourcing payroll, payroll provider, payroll tax deposits, payroll tax reporting, payroll unemployment taxes, penalties and fines from IRS, small business and payroll taxes, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Payroll, Rules, Regulations and Laws

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Things to Know About Withholding County Taxes

Posted by Jessica on April 5, 2016

A tax is a tax is a tax, right? Well, as anyone who has ever read a single paragraph of the state or federal tax code knows, there is rarely a simple answer to any tax-related question. If you’re a small business owner, you probably understand a little bit about the complexity of payroll taxes. Besides the responsibility of withholding federal taxes, small businesses must also withhold state and local taxes. As you will see, the rules governing county taxes alone can make you feel a little dizzy. (more…)

Tags: county payroll taxes, employees, employers, Indiana, local payroll taxes, payroll provider, payroll taxes, small business and payroll taxes, Teresa Ray, The Payroll Department

Posted in: Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes

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Tips and Service Charges: What’s the Difference?

Posted by Ariane on December 29, 2015

Do you own a service industry small business, such as a restaurant, hair salon or hotel? Then it’s important as an employer that you understand your payroll responsibilities when it comes to calculating wages, employee reporting and tax requirements. One factor that affects your business’s payroll tax obligations is when your employees receive gratuities for their services. Do you know the rules? (more…)

Tags: benefits of outsourcing, employee tips, employees, employers, payroll tax reporting, payroll taxes, service charges, small business and payroll taxes, small business payroll, The Payroll Department

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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2015 Indiana Tax Amnesty Program: Is Your Business Eligible?

Posted by Ariane on October 6, 2015

Do you or your small business owe taxes to the state of Indiana? You may be in luck. Beginning September 15, 2015, Hoosier taxpayers can apply for Indiana’s 2015 Tax Amnesty program, which offers both individuals and businesses a limited-time opportunity to pay past-due taxes free of penalty, interest and collection fees. About 40 different tax types are eligible for tax amnesty, including individual and corporate income tax, sales and use tax, inventory tax, and withholding tax. (more…)

Tags: 2015 tax amnesty, Brownsburg, Indiana, payroll tax reporting, save on tax penalties, small business and payroll taxes, tax laws for payroll, The Payroll Department

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Taxes

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How Do You Know When it’s Time to Call the Experts In?

Posted by Elaine on September 29, 2015

Unfortunately, too many small business owners stubbornly decide that once the doors officially open on their new venture, they will try their best to do everything on their own. That means they interview, hire, train and fire employees, create and follow a business plan, develop marketing strategies, secure some type of community presence, find a way to work with all types of vendors, repair whatever is broken, order whatever supplies are needed… oh, and also take care of payroll while also staying abreast of any changes in business and payroll taxes. Whew. (more…)

Tags: benefits of outsourcing, delegating work, outsourcing, payroll provider, payroll service, profit strategies, small business and payroll taxes, The Payroll Department, time management, Use your strengths

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Outsourcing Payroll is like Having a Life Vest

Posted by Sherri on September 15, 2015

As we all know, changes in the world of small business are not only inevitable, they are also constant. More than likely, if you are an entrepreneur, you already have your hands full, just trying to get through your daily responsibilities. That’s one reason why The Payroll Department stays up with the trends. We want to always provide small business owners with the education and information you need. (more…)

Tags: benefits of outsourcing, Brownsburg, mistakes on payroll, outsourcing payroll, payroll service, small business and payroll taxes, Teresa Ray, The Payroll Department

Posted in: IRS and Tax forms, Operating a Small Business, Payroll, Payroll Processing

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What Happens When YOU Get a Letter From the IRS?

Posted by Elaine on August 25, 2015

What happens when you pick up the mail and there is an envelope from the IRS? Entrepreneurs and small business owners in every stage of development open it immediately. Those three letters definitely promote that piece of mail to priority status. (more…)

Tags: Brownsburg, errors in payroll reporting, IRS, payroll tax reporting, payroll taxes, small business and payroll taxes, Tax forms, tax returns, The Payroll Department

Posted in: IRS and Tax forms, Payroll, Payroll Processing, Payroll Taxes

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